These are exciting times for Croatia’s tiny capital markets. In 2004, the Crobex, the main index of the Zagreb Stock Exchange (ZSE), rose by 32% as foreign and local investors piled into the market in the expectation that Croatia would soon be allowed to begin accession negotiations to join the EU. Last year, the official start of membership talks in October contributed to a 28% rise in the Crobex, a 44% increase in the turnover in equities, bonds and certificates listed on the bourse and a 150% rise in trading volumes.
Bond growth
